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StratoComm Corporation Signs $15 Million System Sale Agreement
ALBANY, N.Y., and ANTANANARIVO, Madagascar, Jan. 29 /PRNewswire/ -- StratoComm Corporation today announced the sale of Transitional System telecommunications equipment and services valued at $15,000,000 USD. StratoComm's most recent system sale was executed with, StratoComm Madagascar SA, a Joint Venture Company based in the East African country of Madagascar.
(Logo: http://www.newscom.com/cgi-bin/prnh/20071024/NYW094LOGO )
StratoComm Madagascar, SA (SMS) is a newly formed Joint Venture company registered in Madagascar. Organizational meetings to form SMS were held in Geneva, Switzerland on January 13, 2008. Mr. Faly-Hery Ranaivoson was installed as the General Manager of StratoComm Madagascar, SA and duly authorized to execute the Transitional System Sale Agreement on behalf of the company.
Henri R. Ranaivoson, a Director of StratoComm Madagascar, SA stated: "We welcome the relationship with StratoComm Corporation and eagerly await completion of the site selection process which will support defining of our business model following which the Transitional System can be put into the production schedule."
"It is gratifying and affirming, after fifteen years of research and development, for StratoComm to receive such positive response to its early market development efforts," stated StratoComm Corporation CEO, Roger D. Shearer. Shearer further stated, "StratoComm welcomes the opportunity to work closely with the Ranaivoson family to bring enabling telecommunications services to Madagascar while also contributing to the educational vision championed by Henri and his family."
StratoComm Corporation is a developer and provider of telecommunications infrastructure technologies with a specific focus to the delivery of ubiquitous and cost sensitive communication services to the developing world. The company is further committed to the allocation of a portion of each system's service capacity for the provision of low cost/no cost social and economic outreach programs.
Safe Harbor Disclosure -- This Press Release contains or incorporates by reference "forward-looking statements," including certain information with respect to plans and strategies of StratoComm Corporation. For this purpose, any statements regarding this announcement, which are not purely historical, are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, including StratoComm Corporation beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and based on information available to StratoComm Corporation as of such date. There are a number of important factors that could cause actual events or actual results of StratoComm Corporation and its subsidiaries to differ materially from those indicated by such forward-looking statements.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20071024/NYW094LOGOAP Archive: http://photoarchive.ap.org/PRN Photo Desk, photodesk@prnewswire.com
StratoComm Corporation
CONTACT: Roger D. Shearer, Chairman & CEO of StratoComm Corporation,+1-518-608-8940 ext. 15, info@stratocommcorporation.com
Web site: http://www.stratocommcorporation.com/
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